Mr Alexander, a long-time Packer family lieutenant, will now work under an indefinite contract, which has replaced the previous November 30, 2012 expiry date. Under the new contract, Mr Alexander will no longer receive an increase in salary linked to rises in the consumer price index (CPI). Should he step down, Mr Alexander will have to sit out a 12-month restraint of employment.

In financial 2012, Mr Alexander received total remuneration, including superannuation, of $1.5 million. Mr Alexander also owns just over 506,000 Crown shares, worth about $7.9 million at Friday’s closing price of $15.68.

He was the chief executive of PBL from 2004, and in 2007 was made executive chairman of Consolidated Media Holdings. Mr Alexander stepped down from the role when
News Corp
purchased Mr Packer’s stake in CMH in November 2012.

Before joining the PBL Group, Mr Alexander was the editor-in-chief, publisher and editor of
Fairfax Media
’s The Sydney Morning Herald and editor-in-chief of The Australian Financial Review.